Georgian PM: Georgian economy will grow by more than 3b GEL
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The economy of Georgia will grow by more than three billion GEL in nominal terms and reach 33.8 billion GEL, announced Georgia’s Prime Minister Irakli Garibashvili at today’s Government meeting.
Garibashvili said the 2016 budget envisaged a three percent economic growth rate while the inflation rate would be within the parameters defined by the National Bank of Georgia (NBG), which was about 4.5 percent.
Detailed information about the 2016 budget will be revealed later today by Georgia’s Finance Minister.
Meanwhile, yesterday Georgia’s Economy Minister Dimitri Kumsishvili said: "I know the parameters of the 2016 budget. At this moment I could say only two numbers – three percent growth and four percent inflation. Though, I think announcing all other parameters is the Finance Minister’s prerogative."
Georgia’s national currency, the Lari, is gaining value against the US dollar after the National Bank of Georgia (NBG) sold almost $27 million USD at today’s Foreign Exchange Auction.
Results of the Open Budget Survey (OBS) released today by the International Budget Partnership ranked Georgia 16th in the world, based on an analysis of 102 nations’ budget transparency, participation and oversight.
Between January and August 2015, Georgia’s state budget enjoyed 823 million GEL extra income than the same period of last year, announced the country’s Finance Minister.
The Parliament of Georgia is today discussing amendments to the state budget for 2015, introduced by the country’s Finance Ministry in response to a downgraded economic growth forecast.
Georgia has ended the first six months of the year on a financial high – the country fulfilled its tax revenue plan and the state budget experienced a significant surplus.
Georgia will have about 10 billion GEL in the state budget in 2016, announced Finance Minister Nodar Khaduri at today’s Government meeting.
There is more money in Georgia’s state coffers than expected, latest figures from the Ministry of Finance show.
In the past three years Georgia has undergone significant change and achieved many goals, and plans are in place to see the country continue this path of success, says Finance Minister Nodar Khaduri.
Georgia’s economy is growing and exceeding the projected outlook of the International Monetary Fund (IMF).
Georgia’s Finance Minister Nodar Khaduri is requesting to increase the country’s tax revenue plan by 120 million GEL.
Georgia’s economy will experience six percent growth in 2017, forecasts the International Monetary Fund (IMF).